Paying taxes on Bitcoin cash out?

 I recently received an email from Coinbase stating that I may have to pay taxes on my Bitcoin transactions. I have cashed out a few times in Bitcoin with my Bovada account in 2019. ( Neither times were from winnings, just cashed out when I broke even)

Doesa anyone know if I need to pay taxes on my Bitcoin withdrawals?

From what I understand only if you show a profit.   A lot of sellers are being hit with this.   Just like business  … show a loss I forget about it!

You can report it as a profit/loss for taxes. you only owe tax if you had a gain. you could report it like an investment like stocks, or if you're trading a lot, you could treat it as a side business and can offset your taxes with a loss.

Seems against the principles of cryptocurrency to me